You should consult a tax professional for an answer based on your unique situation, this is not tax advise just general information.

Most professionals will recommend a separate LLC for every $1 million in assets but I don't think that's necessary.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I've painted more walls, ceilings and trim work than I could ever count in my lifetime and *I* suck compared to professional painters, and most of my paint jobs could pass for lower-end professional jobs. 

Estimating is both art & science and FWIW most professional estimators rarely get it spot on, usually operating within a Delta.There's tons of estimating books, software etc.

Definitely get with a qualified tax professional on this.

I'm not a professional Tax person.

If you’re interested in investing here, I’d encourage you to speak with a knowledgeable local real estate professional or lender to get accurate guidance.

Readers should seek professional advice.

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